KMG Fiduciary Partners LLC Reduces Position in Johnson & Johnson $JNJ

Key Points

• KMG Fiduciary Partners LLC reduced its stake in Johnson & Johnson by 60.9%, selling 18,434 shares and now holding 11,833 shares valued at $1,808,000.
• Several hedge funds have increased their positions in Johnson & Johnson, with Vanguard Group owning over 233 million shares after adding more in the last quarter.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding estimates, and has set a FY 2025 EPS guidance of 10.800-10.900.

KMG Fiduciary Partners LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 60.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,833 shares of the company's stock after selling 18,434 shares during the period. KMG Fiduciary Partners LLC's holdings in Johnson & Johnson were worth $1,808,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JNJ. Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the first quarter valued at approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the first quarter valued at approximately $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson during the first quarter worth $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group upped their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Barclays increased their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.87.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded up $1.81 during mid-day trading on Friday, hitting $175.97. 25,617,065 shares of the company's stock traded hands, compared to its average volume of 6,995,150. The company has a market capitalization of $423.80 billion, a P/E ratio of 18.82, a PEG ratio of 2.22 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16. The company's 50-day moving average is $172.80 and its two-hundred day moving average is $161.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The company's revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.